HP Reports Fiscal 2015 Second Quarter Results Highlights GAAP diluted net EPS Net revenue Non-GAAP(1) diluted net EPS Cash flow from operations 2% CC(2) $27.3B $25.5B 7% Q2 FY14 $0.66 Q2 FY15 17% Q2 FY14 $25.5 billion $0.88 $0.55 13% 1% $0.87 $3.0B 51% $1.5B Q2 FY14 Q2 FY15 $0.55 Q2 FY15 Q2 FY14 $0.87 Q2 FY15 $1.5 billion Geography Americas 45% of net revenue 2% y/y EMEA 36% of net revenue 12% y/y flat CC(2) Asia Pacific 19% of net revenue 7% y/y 4% CC(2) 3% CC(2) Non-US net revenue was 65% of total net revenue Capital Allocation $ Dividend payment Stock repurchase Operating company net cash(1)(3) $291 million $659 million $3.7 billion $0.16 per share approximately 19.0 million shares $0.6 billion q/q Asset Management $ $ Cash conversion cycle 4 days 9 days y/y and 1 day q/q = Days receivables 44 days 3 days y/y and 3 days q/q - Days payable 69 days 10 days y/y and 4 days q/q + $ Days inventory 29 days 4 days y/y and flat q/q 1. All non-GAAP numbers have been adjusted to exclude certain items. A reconciliation of specific adjustments to GAAP results for the current and prior periods is included as a part of Q2 ’15 earnings presentation available at www.hp.com/investor/home 2. Adjusted to eliminate the effects of currency 3. Operating company net cash is defined as total company net cash excluding the cash and debt associated with HP Financial Services HP Reports Fiscal 2015 Second Quarter Results Personal Systems Revenue $ $7.7 billion 5% y/y flat CC(1) Operating profit $235 million 3.0% of revenue Printing Total units 2% y/y Notebooks revenue 5% y/y Units 17% y/y Desktops revenue Units 14% y/y Commercial revenue 7% y/y Consumer revenue 2% y/y 11% y/y ISS revenue $6.6 billion Storage revenue 8% y/y Converged Traditional 5% y/y 18% y/y Operating profit $950 million BCS revenue 15% y/y Networking revenue 16% y/y TS revenue 8% y/y 14.5% of revenue 7% y/y 5% CC(1) Total hardware units 4% y/y Operating profit Consumer hardware units 6% y/y Commercial hardware units 1% y/y $996 million 18.3% of revenue $ Revenue $4.8 billion 16% y/y 10% CC(1) Operating profit $194 million ITO revenue 20% y/y ABS revenue 8% y/y 4.0% of revenue HP Financial Services Software $ 5% y/y Enterprise Services Revenue 1% y/y 5% CC(1) Supplies revenue $5.5 billion 19% y/y Enterprise Group $ Revenue $ Revenue $892 million 8% y/y 5% CC(1) Operating profit $160 million 17.9% of revenue License revenue 17% y/y $ Revenue $805 million 7% y/y Support revenue 2% y/y Services revenue 11% y/y Professional Services SaaS Operating profit $85 million 15% y/y 5% y/y Financing volume 1% y/y Net portfolio assets 2% y/y 10.6% of revenue Outlook Non-GAAP diluted Q3 FY15 $0.83 1. 2. 3. net EPS(2) $0.87 GAAP diluted FY15 net EPS(3) $3.53 Q3 FY15 net EPS $3.73 $0.50 $0.54 FY15 net EPS $2.03 $2.23 Adjusted to eliminate the effects of currency Third quarter fiscal 2015 non-GAAP diluted net EPS estimates exclude after-tax costs of approximately $0.33 per share, related to separation costs, amortization of intangible assets, restructuring charges, defined benefit plans settlement charges and acquisition-related charges Full year fiscal 2015 non-GAAP diluted net EPS estimates exclude after-tax costs of approximately $1.50 per share, related to separation costs, amortization of intangible assets, restructuring charges, defined benefit plans settlement charges and acquisition-related charges © 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.